Can I retire at age 56 with 873,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $873,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%15.8%
1 years$72,092$71,449$70,823$70,211$69,614$67,959
2 years$35,689$35,024$34,380$33,755$33,150$31,492
3 years$23,556$22,889$22,246$21,627$21,031$19,423
4 years$17,491$16,826$16,190$15,581$15,000$13,452
5 years$13,853$13,191$12,564$11,968$11,403$9,921
6 years$11,428$10,772$10,153$9,571$9,023$7,608
7 years$9,697$9,046$8,437$7,869$7,338$5,991
8 years$8,399$7,754$7,156$6,601$6,087$4,808
9 years$7,390$6,751$6,163$5,623$5,126$3,913
10 years$6,584$5,951$5,373$4,847$4,368$3,219
11 years$5,924$5,298$4,730$4,218$3,757$2,670
12 years$5,375$4,755$4,198$3,700$3,255$2,230
13 years$4,911$4,297$3,751$3,266$2,839$1,873
14 years$4,513$3,906$3,370$2,900$2,488$1,580
15 years$4,169$3,568$3,043$2,586$2,191$1,337
16 years$3,868$3,274$2,759$2,315$1,936$1,136
17 years$3,602$3,015$2,510$2,080$1,717$967
18 years$3,367$2,786$2,292$1,875$1,527$825
19 years$3,156$2,582$2,098$1,694$1,361$705
20 years$2,967$2,399$1,925$1,534$1,215$603
21 years$2,796$2,235$1,771$1,392$1,088$517
22 years$2,641$2,086$1,632$1,266$975$443
23 years$2,499$1,951$1,507$1,153$875$381
24 years$2,370$1,828$1,394$1,052$787$327
25 years$2,251$1,716$1,291$960$708$281
26 years$2,141$1,612$1,197$878$638$242
27 years$2,040$1,517$1,112$804$575$209
28 years$1,946$1,430$1,033$736$519$180
29 years$1,858$1,349$962$675$468$155
30 years$1,777$1,274$896$620$423$133
31 years$1,701$1,204$835$569$383$115
32 years$1,630$1,140$779$523$346$99
33 years$1,563$1,079$728$481$313$85
34 years$1,501$1,023$680$443$284$74
35 years$1,442$970$636$407$257$64
36 years$1,387$921$595$375$233$55
37 years$1,334$875$556$346$211$47
38 years$1,285$831$521$319$191$41
39 years$1,238$790$488$294$173$35
40 years$1,194$752$458$271$157$30
41 years$1,151$716$429$250$143$26
42 years$1,111$682$403$231$129$23
43 years$1,073$649$378$213$118$20
44 years$1,037$619$355$197$107$17
45 years$1,003$590$333$182$97$15
46 years$970$563$313$168$88$13
47 years$938$537$294$155$80$11
48 years$908$513$276$143$73$9
49 years$880$490$259$132$66$8
50 years$852$468$244$122$60$7

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 56 starting with $873,000, adding $3,973 every year, while hoping to spend $35,328 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 55/28/17 Blend
55$873,000$873,000$873,000$873,000
56$966,144$919,875$906,344$1,014,696
57$1,027,102$927,360$899,117$1,055,720
58$1,093,094$934,028$890,465$1,096,245
59$1,164,595$939,801$880,302$1,139,584
60$1,242,130$944,598$868,538$1,186,015
61$1,326,274$948,330$855,080$1,235,845
62$1,417,660$950,904$839,832$1,289,412
63$1,516,985$952,222$822,690$1,347,093
64$1,625,015$952,178$803,547$1,409,301
65$1,742,592$950,661$782,292$1,476,496
66$1,870,645$947,552$758,807$1,549,184
67$2,010,194$942,725$732,971$1,627,926
68$2,162,363$936,048$704,654$1,713,341
69$2,328,387$927,377$673,723$1,806,113
70$2,509,628$916,564$640,039$1,906,999
71$2,707,584$903,449$603,453$2,016,833
72$2,923,903$887,864$563,815$2,136,540
73$3,160,402$869,630$520,963$2,267,140
74$3,419,078$848,557$474,730$2,409,758
75$3,702,133$824,445$424,943$2,565,640
76$4,011,991$797,083$371,419$2,736,160
77$4,351,320$766,246$313,967$2,922,837
78$4,723,058$731,696$252,389$3,127,347
79$5,130,443$693,182$186,477$3,351,542
80$5,577,038$650,438$116,014$3,597,466
81$6,066,770$603,184$40,775$3,867,376
82$6,603,963$551,122$0$4,163,764
83$7,193,377$493,937$0$4,496,551
84$7,840,260$431,299$0$4,869,963
85$8,550,390$362,855$0$5,279,995
86$9,330,131$288,237$0$5,730,397
87$10,186,496$207,051$0$6,225,302
88$11,127,207$118,885$0$6,769,270
89$12,160,774$23,302$0$7,367,330
90$13,296,570$0$0$8,025,028
91$14,544,923$0$0$8,773,177
92$15,917,208$0$0$9,603,580
93$17,425,962$0$0$10,516,655
94$19,084,991$0$0$11,520,768
95$20,909,512$0$0$12,625,141
96$22,916,286$0$0$13,839,931
97$25,123,782$0$0$15,176,331
98$27,552,349$0$0$16,646,673
99$30,224,406$0$0$18,264,543
100$33,164,658$0$0$20,044,914